Frequently Asked Questions
The Exceptional Assistant is a complete client, business, project and loan management system specifically designed for non-profit and alternative lending agencies, including Community Futures and Business Development organizations.
CommonGoals offers several modules for TEA. Core modules include: Client, Loan, Business, Project, Custom Report Builder as well as a Calendar and Rolodex module. Other modules available as add-ons include: Credit, Escrow, Participation, Investor, Grant, Electronic Funds Transfer as well as two reporting modules, CDFI/CIIS and EDMIS.
TEA comes with the Core Modules noted above, however you can add on as many or as few of the additional modules that you need.
TEA uses the common interest formulas for simple interest, compounded interest and mortgage interest. You can also download a PDF with details about TEA’s interest calculation methods (53K).
Simple Interest calculation:
Interest = Principal x Annual Rate of interest x Time elapsed =x (days) / y (days in year)
Compounded Interest Calculation: Loan balances are calculated by determining the future value of the loan. The future values are calculated using the equivalent daily interest rate id.
Mortgage Interest Calculation: Future Value of Loan = Loan Amount + (Loan Amount x Id x cumulitve days).
Although TEA comes with over 100 reports installed, you are not limited to only those reports. Anyone with a valid support contract can access a large number of reports available in our Custom Report Repository. Most of these reports, including TEA’s core reports can be modified or “tweaked” to your specific needs. Also, the Custom Report Builder module gives you the ultimate power and flexibility to easily design any type of report that you require for your organization.
Yes. General Journal information can be exported to many popular accounting software formats including Simply Accounting, Quickbooks, AccPac, Fundware and Peachtree. If your accounting software isn’t noted here, don’t worry! Just contact us to find out if TEA is compatible.
Yes! TEA’s easy- to-use Administration Module allows you to customize a variety of loan funds as required for your organization. Loans can be disbursed from one or many funds. We also provide transactions to transfer amounts between funds.
Our experienced and dedicated, in-house technical support team is accessible by phone, fax and e-mail whenever help is needed. Online help resources available 24/7. We are focused on helping you get the most out of your investment and getting you back on track quickly when any issues arise. Our TEA Support Team regularly participates in training sessions to make sure they are up-to-date on all of the latest features and developments to best serve our clients.
With a typical installation, we spend about three days with an organization to ensure that the implementation is complete. This is the best time to arrange some basic training for your team. In addition, we offer a variety of online training programs and courses throughout the year which provide you with the latest tips and tricks to make the most out of the program – without the expense of travelling. Live group training options are also available as well as private instruction for your organization. See our full range of training option here.
Whether you use manual ledgers, a combination of spreadsheets and databases or even another software package, we can accumulate and consolidate all the data from the various sources and create an accurate data file for your organization. Our Data Migration specialists will ensure that your existing data is migrated accurately and seamlessly into your new software solution.
We no longer offer demo installations of our software, but you can request a free, personalized online demo with one of our experts so you can see TEA in action and explore all of TEA’s features and add-ons that may be of interest. We want you to be confident in your decision so a personal demo provided you the opportunity to ask as many questions as you have and to effectively see what TEA can do.